The following correctly prepared entries without explanations pertain to Triangle Corporation.

The original sale (Entry 1) was for 200,000 shares, and the treasury stock was acquired for \(\$ 15\) per share (Entry 2\()\).

Required

a. What was the sales price per share of the original stock issue?

b. How many shares of stock did the corporation acquire in Entry 2 ?

c. How many shares were reissued in Entry 3 ?

d. How many shares are outstanding immediately following Entries 2 and 3, respectively?

Transcribed Image Text:

Account Title Debit Credit 1. Cash 2,100,000 Common Stock 1,000,000 Paid-in Capital in Excess of Par Value 1,100,000 2. Treasury Stock 22,500 Cash 22,500 3. Cash 13,600 Treasury Stock 12,000 Paid-in Capital in Excess of Cost of Treasury Stock 1,600